It is interesting to see that amongst all the news of doom and gloom around the world that the Dow is approaching its all time high. The month of September 2012 has seen the Dow make a new 52-week high. This is in marked contrast to back in 2009 when the Dow had dipped below 7000.
If we listen to the voices of the many bears from 2008 and 2009 we would still be trying to sell this market. Fortunately, we learn more and more about how to analyze the market we can simply look at the prices to see from a simple stock chart the direction of the prices are going.
Personally, I've been a raging bull since late 2008. Yes, I will openly admit that I went into the long side of the market a tad bit early, but I don't regret it one bit. Some of you may remember that I was screaming to buy Ford stock as it briefly dipped below the two dollar per share level. So many people laughed at that recommendation that I felt like a successful standup comedian who just told the best joke in the world.
So what's the moral of the story? Well, if there was a moral it is that there is no substitute for being in the right place at the right time. A more practical moral for the story would be that it's simply not as simple with others would have you to believe to pick tops or bottoms in any market. Remember, even though it may not be fashionable or cool, it's still okay to let the trend be your friend.
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